Unimech Aerospace completes first tranche of JVC capital infusion

Unimech Aerospace and Manufacturing Ltd has successfully completed the first tranche of capital infusion into its Joint Venture Company (JVC), Kanoo Unimech Advanced Manufacturing Solutions. Unimech infused SAR 15.30 million (approximately ₹39.36 Crore), securing a 51% controlling stake in the JVC. Kanoo contributed the remaining SAR 14.70 million (49%). The JVC, established with Yusuf Bin Ahmed Kanoo Company Limited, aims to provide advanced machining and remanufacturing services for the oil & gas, utilities, defense, and mining sectors in Dammam, Saudi Arabia. The second tranche of funding, also totaling SAR 30 million, will be infused subsequently. This investment positions the JVC as a subsidiary of Unimech Aerospace and Manufacturing Limited.